AstraZeneca (NYSE: AZN)‘s stock had its “neutral” rating reaffirmed by Zacks in a research note issued on Monday. They currently have a $46.00 price target on the stock.
Zacks’ analyst wrote, “AstraZeneca’s first-quarter 2012 core earnings of $1.81 per ADS were 4 cents above the Zacks Consensus Estimate. Earnings were down 19% (CER) year over year. Higher tax rate and lower revenues hurt earnings during the quarter. Even though we are encouraged by the company’s focus on the high-potential emerging markets, we remain concerned about the generic competition faced by its key products. The company is looking to drive the bottom-line through cost-cutting initiatives and share buybacks. The weak late-stage pipeline, coupled with the slow Brilinta uptake, also bothers us. We remain Neutral on the stock.”
Other equities research analysts have also recently issued reports about the stock. Analysts at JPMorgan Chase (NYSE: JPM) upgraded shares of AstraZeneca from an “underweight” rating to a “neutral” rating in a research note to investors on Monday. Separately, analysts at Jefferies Group (NYSE: JEF) upgraded shares of AstraZeneca from a “hold” rating to a “buy” rating in a research note to investors on Monday. Finally, analysts at Barclays Capital (NYSE: BCS) upgraded shares of AstraZeneca from an “underweight” rating to an “equal weight” rating in a research note to investors on Monday, April 23rd.
Shares of AstraZeneca traded up 0.80% during mid-day trading on Monday, hitting $43.90. AstraZeneca has a 52 week low of $40.89 and a 52 week high of $52.54. The company has a market cap of $56.734 billion and a P/E ratio of 5.97.
The company last announced its quarterly results on Thursday, April 26th. It reported $1.81 earnings per share (EPS) for the previous quarter, beating the Thomson Reuters consensus estimate of $1.73 EPS by $0.08. The company’s quarterly revenue was down 11.4% on a year-over-year basis. On average, analysts predict that AstraZeneca will post $1.48 earnings per share next quarter.
AstraZeneca PLC (AstraZeneca) is a biopharmaceutical company. The Company focuses on the discovery, development and commercialization of prescription medicines for six areas of healthcare.